Shell has signed an agreement to sell its 75% stake in Tongyi Lubricants in China to Huo’s Group and The Carlyle Group. The transaction is expected to complete by late 2015 or early 2016, subject to regulatory approvals.

For Repsol’s lubricants business, sales abroad already represent more than a third of turnover. With the Repsol Honda team as its presentation card, its lubricants are now on the shelves in more than 70 countries, in a market that is global but that will see 80% of its growth in Asia.